    [Public Papers of the Presidents of the United States: George W. Bush (2004, Book III)]
    [October 2, 2004]
    [Pages 2329-2330]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    October 2, 2004

        Good morning. Next week in Iowa, I will proudly sign the Working
    Families Tax Relief Act. This bipartisan law is good news for America's
    families. It keeps in place major portions of the tax relief we passed
    over the last 3 years. It preserves marriage penalty relief, the $1,000
    child tax credit, and the expanded 10-percent tax bracket. The law also
    increases the refund limit on the child tax credit, which means about 7
    million low-income families will get higher refund checks next year.
        Because we acted, 94 million Americans will have a lower tax bill
    again next year, including 70 million women and 38 million families with
    children. I met many families that are benefiting from tax relief,
    including Gary and Angela Brown, from Springfield, Missouri. Gary works at a
    manufacturing company, and Angela stays at home with their four
    children. Last year, the Browns saved about $3,000 on their taxes. They
    used some of that money to put a downpayment on braces for their
    daughter. If Congress had not extended tax relief, the Brown's tax bill
    would have gone up $1,500 next year. Now, because we acted, they will be
    able to keep and use that money. Tax relief has helped millions of
    families, like the Browns, to spend, save, and invest for the future.
    Thanks to their hard work, America's economy is strong and getting
    stronger.
        This week brought more evidence that tax relief is helping our
    entire economy move forward. The economy grew at an annual rate of 3.3
    percent in the second quarter. America's economy has been growing at
    rates as fast as any in nearly 20 years. And for 12 consecutive months,
    our

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    economy has been creating jobs. We've added 1.7 million jobs since
    August, 2003, including 107,000 manufacturing jobs since January.
        The unemployment rate is now 5.4 percent, down almost a full point
    since June, 2003, and below the average rate of the 1970s, 1980s, and
    1990s. The homeownership rate is at an alltime high, and new home sales
    are still rising. After-tax income is increasing, which means workers
    are keeping more of their paychecks. The tax relief we passed is
    working.
        Having extended tax relief, we must take additional action to
    strengthen our economy so every American who wants to work can find a
    job. To create more jobs, we need to reduce the burden of regulation on
    small businesses. We need to end the junk lawsuits that keep
    entrepreneurs from creating new jobs. Congress needs to pass my energy
    plan to make America less dependent on foreign sources of oil. We need
    to open more foreign markets to American products and ensure that other
    countries play by the rules. We must continue to spend taxpayer dollars
    wisely in Washington, DC. And to help families and small businesses plan
    with confidence, we need to make all of the tax relief permanent.
        Some politicians in Washington have a different view of tax relief.
    When I proposed tax relief for working families in 2001 and 2003,
    Senator Kerry and other Democratic leaders
    voted against it. In fact, Senator Kerry has voted consistently against
    marriage penalty relief, against increasing the child tax credit, and
    against expanding the 10-percent bracket. Now, Senator Kerry and the
    Democrat leaders are proposing a lot of new Federal spending, and the
    only way to pay for all their promises is to raise taxes on working
    families.
        You know where I stand. Higher taxes are the wrong policy for this
    growing economy. Our families and our country are better off when
    Government lets people keep more of what they earn. And that is why I'll
    work with Congress to keep taxes low, and that is why I will proudly
    sign the Working Families Tax Relief Act of 2004 into law.
        Thank you for listening.

    Note: The address was recorded at 2 p.m. on October 1 in Bedford, NH,
    for broadcast at 10:06 a.m. on October 2. The transcript was made
    available by the Office of the Press Secretary on October 1 but was
    embargoed for release until the broadcast. The Office of the Press
    Secretary also released a Spanish language transcript of this address.